Henrich argues that with or without complete central bank capitulation, markets are in for a year-end rally that will not be able to sustain or surpass its new highs.
He compares the final months of 2019 to the final months of 2007, pointing out the critical divergence in the Fed’s ability to lower interest rates further - having less than half the wiggle room than the 500 basis points they had in 2007.
- Source, Real Vision Finance
